An Overview of Personal Loans

With the economy in such dire straits, many people are looking to different types of loans to take care of their bills while searching for second jobs. Personal loans are loans made directly to the borrower from a bank or lending house. Covering everything from medical bills to credit cards to student loans, these loans are helping people get what they need, when they need it. While there are many different types of personal loans, the can all be categorized as one of two different types: secured and unsecured. Which type of loan you get is dependent on what you will be using the money for. Some loans are available in both secured and unsecured options, while others are only found as one or the other.

Secured personal loans are provided by specific lenders, and have their repayment secured by a physical item. This is how they get their classification. The two most common types of secured loans are home mortgages and car loans. The loans are made specifically for a single purchase. This purchase is repaid in set amounts every month over the length of the loan. If payments are ceased, the lender repossesses the item – the car or the house – in lieu of payment. In contrast, Unsecured Personal Loans are the more common and the more recognizable. Unsecured loans cover a vast majority of ground, from store lines of credit to student loans to medical bills. Once these loans are issued, they can be used for a range of items and services. In addition, many unsecured loans have variable interest rates that can change monthly or annually.

For people who need extra money to pay for a car or a college education, personal loans are available to help fund their needs lenders are available for all credit situations.

Pentagon Credit Cards Used for Escort Services and Casinos

Civilian and military employees of the Department of Defense (DoD) have used government credit cards to gamble and pay for escort services, an internal audit found.

The Pentagon inspector generals office is about to release a report that some members of the armed services and civilian workers had charges made at casinos and at businesses offering escort services in Atlantic City and Las Vegas.

A Pentagon official told Politico that its possible the department may not have paid the charges because those issued DoD credit cards pay their monthly bills and then request reimbursement. The official also said that the employees may have used the government...

Banks still wary of small-business loans as PBOC speeds targeted measures

Interest-rate cuts from Chinas central bank have done little thus far to make credit more accessible for the small firms that Beijing has posited are central to its shift toward a consumption-driven economy, The Wall Street Journal reported, citing analysts and economists. To encourage risk-averse banks to lend to smaller-scale firms the Peoples Bank of China will accelerate targeted measures in the months ahead by giving banks more liquidity--provided they lend more to said companies, according to central bank officials and economists. But even these measures may not be effective, as tailored measures taken to date have yet to pay off in any meaningful way for small corporate borrowers.



Alternative Business Loans in Colorado

DENVER, May 12, 2015 /PRNewswire/ --Business owners continue to face challenges qualifying for financing. As an alternative to bank financing and SBA loans, CSI Financial LLC provides Business Loans in Coloradoand across the nation to businesses that experience high growth, operating losses, lack of commercial banking options, seasonality fluctuations and cash flow issues. We understand the unique financial challenges facing business owners, so we offer flexible financing solutions tailored to meet our clients immediate working capital needs, said CEO, Christopher A. Smith. As a private lender, we are very responsive and make decisions in days vs. weeks.

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New Rules Make It Harder To Apply For Reverse Mortgages

Starting today, the Federal Housing Administration is imposing new rules that will make it harder to apply for a reverse mortgage.

The loans allow home owners over 61 that have home equity to convert that into cash, but there can be a lot of problems with the process.

Here amp; Nows Jeremy Hobson looks at reverse mortgages with Jill Schlesinger of CBS News, who is also a certified public accountant.

Guest
  • Jill Schlesinger, business analyst at CBS News. She tweets @jillonmoney.


Don’t rush the PDMA

There has been considerable discussion on the proposal to establish the Public Debt Management Agency (PDMA) to manage Central government debt. Supporters backed the move primarily on the ground of conflict of interest, given the RBI's functions as the monetary authority. However, on April 30, the finance minister stated that clauses relating to the PDMA, amendments to the RBI Act 1934 and the Government Securities Act 2006 would be withdrawn from the Finance Bill, 2015. The FM also announced that the Union government would now work on a roadmap for the PDMA and unified financial market regulator in consultation with the RBI. This is welcome. In the interest of pragmatic monetary and fiscal...

Can You Get Chip & PIN Credit Cards in America?

This is the start of the credit card revolution youve been hearing about. Credit cards with chips, or EMV payment cards, were a hot topic after Target suffered a massive data breach at the end of 2013, with some experts saying consumers would be better protected from such incidents if the US had already adopted EMV, as much of the credit-card-using world has. The Target breach and others like it gave momentum to the chip movement, and the major credit card networks have all announced plans to migrate to EMV technology. (This is an upgrade from the decades-old magnetic stripe technology.)

Visa, MasterCard, American Express and Discover set an Oct. 1, 2015 deadline for issuers and merchants...

Three Credit Cards To Help You Get Ahead

We enlisted Regina Novickas, money saving expert from Slickdeals.com, to reveal her top picks for best credit cards to help you save.  Her first nod goes to the American Express Starwood Preferred Guest Card.  She likes it because it's great for travelers, offering the flexibility of no blackout dates and no annual fee for the first year.

"You're not limited to just airlines and hotels," Novickas said.  "It works for both."

For best all-around savings card, Novickas votes for the Chase Freedom Card.  When it comes to rewards, it gives you one percent cash back on everything, but you can sign up for higher rewards from certain merchants.

Novickas said cards for parents...

One in three SME loans guaranteed by owners

Personal guarantees, where company owners commit to repay their businesss loans even if the company cannot, remain common here, the new data shows. That is despite the feature being seen by some as a contributor to reckless boom-era lending.

For banks, the use of guarantees can act as a deterrent against default, and helps boost recovery for banks when defaults do happen, according to Central Bank research published in a economic letter by researchers James Carroll, Fergal McCann and Conor OToole.

For borrowers, the widespread use of personal guarantees by banks can help secure loans but adds a layer of risk to business debts with welfare implications for families beyond the business,...

Moody’s: Stopping eminent domain seizures of underwater mortgages a credit …

The House of Representatives Appropriations Subcommittee approved a bill last week for Transportation, Housing and Urban Development appropriations for the fiscal year ending 30 September 2016.

If passed, the bill will deter municipalities from using eminent domain to seize underwater mortgages from residential mortgage-backed securities transactions at distressed prices in 2016, a credit positive for RMBS.

Moodys Investors Service says in a client note that if municipalities were able to use eminent domain for such seizures in private-label RMBS, as they have discussed in the past few years, losses for those RMBS would increase.

The bill includes a provision that...

3 Companies That Are Transforming Small Business Lending

It'sno secret that it has become harder and harder to get a small business loan from a bank. Luckily for small businesses, many other ways of borrowing money are now available. These range from short-term loans for those with bad credit, to loans for online businesses, to peer2peer loans. The coolest thing about these new types of lenders is not simply the loan products they provide, but also the technology that they use to make lending more efficient.

Here are three companies that are transforming the small business loan industry. They just might help you get a loan for your small business when you feel like you've exhausted all your options.

DISCLOSURE: The website which...

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